Short term loan, also called a swing loan made in anticipation of intermediate-term or long-term financing.

A loan for buyers who need money to close on a new home before they can sell their present home. Bridge loans are short-term, usually up to 1 year. Once the sale on the old home is finished, you can pay off the loan. Bridge loans are also called interim financing, swing loans or turnarounds.

A short-term interim loan. Bridge loans are commonly used to close a transaction on one property while another is being sold.

A loan made on a new home prior to the pay-off of the existing homes mortgage, to help the borrower move into a new home prior to selling the old home.

Short term mortgage utilized to help a borrower purchase a new home prior to the sale of his/her current home. Proceeds from the sale of the current residence are used to repay this loan.

(or Swing-Loan) A form of a second mortgage that is secured by the borrower's present home (which is usually for sale) in a manner which allows the proceeds to be used for closing on the new home before the present home is sold.

A short-term loan in effect from the end of one loan to the beginning of another loan, or prior to permanent financing.

Also called a swing or interim loan, a bridge loan is an "in-between" loan that allows a buyer to make a down payment on a new home before their current home is sold. Typically, the money made from the sale of a current home would be immediately applied to the purchase of a new home; but when the timing is not right, a bridge loan can help the buyer finance their new home while the current home is still for sale.

An interim financing arrangement to allow a borrowing entity to make an acquisition that, although it does not meet permanent loan criteria, meets the specific lending criteria of the bridge lender. Bridge loans are short term and are designed to be paid off by permanent loans within a specified timeframe.

A deferment of tuition and fees awarded to students with a complete financial aid packet or who are waiting on student loan funds that have already been awarded.

Short-term loan to provide temporary financing until more permanent financing can be secured.

Financing that "bridges" the period between the end of one loan and the beginning of another.

Also known as "swing loan", this is a an additional trust, collateralized by the borrower's current real estate property, which uses the proceeds to close on a new real estate property before the current property is sold.

A short-term mortgage loan used to purchase a new home. The bridge loan is generally secured by a mortgage on the existing home and generally due and payable upon sale of the existing home.

An interim (short term) loan offered by a lender for the purpose of securing the cash for the down payment and closing costs needed to purchase a property while another property having the equity to cover such expenses is listed for sale. Generally, this loan is offered at a much higher interest rate, and is for a period not to exceed 12 months.

A second trust for which the borrower's present home is collateral, allowing the proceeds to be used to close on a new house before the present home is sold. Also known as a "swing loan."

Short term financing that enables a borrower to close on a project in a timely manner, until permanent funding is in place.

(Commonly referred to as a Swing Loan) A loan that allows you to purchase a new home although you have not sold your current home. Example: You may use this loan to purchase your new home in May but your current home will not close until June. You use the current home as collateral for the bridge loan.

A loan intended to be used for a short period time between the initial requirement for funds and a permanent, usually less costly, financial solution. Bridge loans are typically funded by collateralized real estate. There are typically very few limitations on the uses of funds for a bridge loan, although lenders will review the use to insure that payback can be met.

An interim loan typically used when the buyer is unable to sell his/her house but needs money to close the transaction on the house he/she is buying. The bridge loan is made on the buyers current residence to finance the buyers new residence. The loan is paid off when the buyers current residence is sold.

A temporary, single-payment loan used by creditors to ãbridgeä the time period between the retirement of one loan and the issuance of another. An example is a loan used for the down payment on a new real estate purchase.

A short-term loan used to provide funds to close on another residential property when the current property has not yet closed.

Short-term loan to provide temporary financing until more permanent financing is available.

A loan that bridges the gap between two other loans, usually for a short term. (See swing loan)

A short-term loan used until permanent financing can be arranged.

Also called a swing loan. If a borrower is purchasing a second home, then a bridge loan is secured by the existing residence. Cap: A limit placed on an adjustable rate mortgage, specifying how much the interest rate and/or payment can increase/decrease.

A Bridge Loan is a loan that is used for a short duration of time until permanent financing is put in place. Companies that come out with an IPO issue access bridge f in ance for the interim period before the issue proceeds are actually realized.

A loan that is collateralized by the borrower's current home which is usually for sale which allows the proceeds to be used for closing on a new house before the current home is sold.

An interim loan meant to cover the period between the end of one mortgage, and the start of another, for example, to cover the gap created by the borrower if they purchase a home before receiving payment for the sale of their previous home.

A loan placed against a borrower's present home, while it is up for sale or with a sale pending, with the proceeds typically used toward the purchase of a new home.

A loan which enables a borrower to purchase property then allows time for the buyer to rehab or increase the NOI prior to placement of permanent long term financing. Also enables a buyer to get financing to make a down payment and pay closing costs before selling the present property. also called a gap loan.

An interim loan that is made to finance a buyers new residence if the buyer is unable to sell current residence but needs cash to close the transaction.

A loan that "bridges" the gap between the purchase of a new home and the sale of a current or existing home. The current home is used as collateral and the bridge loan is used to pay closing on the new home before the current home is sold. Some bridge loans are structured to completely pay off the existing mortgage at the bridge loan's closing, while other variations of the loan add the new debt to the old debt. Bridge loans usually come with six month terms.

A short-term loan secured by the equity in an as-yet-unsold house, with the funds to be used for a down payment and/or closing costs on a new house. There is no payment of principal until the house is sold or the end of the loan term, whichever comes first. Interest payments may or may not be deferred until the house is sold.

A loan which enables buyers to get financing to make a down payment and pay closing costs on a new home, before finalizing the sale of the home they currently own. C& R's - Covenants, conditions and restrictions. A document that defines allowable neighborhood use, requirements and restrictions of a property.

A short-term mortgage made until a longer-term loan can be made. It is sometimes used when a person needs money to build or purchase a home before the present one has been sold.

An interim loan that enables a buyer to purchase a home when the current home has not yet been sold.

An interim loan given to finance the difference between the construction loan and the maximum permanent loan as committed or when unable to sell current home before purchasing a new home.

A short-term loan secured by the borrower's current home (which is usually for sale) that allows the proceeds to be used for building or closing on a new house before the current home is sold. Also known as a "swing loan."

A short term loan made until a longer term loan can be arranged. Most often used when a person needs to purchase a home before their present home is sold.

For people who must buy a new home before selling their old one. “Home Buying for Dummies" calls this an “inadvisable situation." A bridge loan lets you borrow against the equity in your old home until it sells; but the fees for these loans can be steep because you only need the money for a few months. Source: Home Buying for Dummies

A loan that enables a home buyer to get financing to make a down payment and pay closing costs on a new home before selling property currently owned. Also called gap financing.

This type of mortgage loan is sometimes used when a buyer will be closing on a new house before the present home is sold. The buyer's present home is used as collateral for another mortgage loan, which is used to purchase the new home. Also known as a "swing loan."

A bridge loan is a loan made on the buyer's current residence to finance the buyer's new residence. The loan is paid off when the buyer's current residence is sold.

If you close on a home before completing the sale of your existing home (not an ideal circumstance by anyone's estimation), you may need to obtain a bridge loan.

A loan obtained by a homeowner who has not yet sold an existing property, yet is closing on a new property. Often becomes the source of the down payment.

A form of second trust that is collateralized by the borrower's present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold. Also known as "swing loan."

Also known as a gap loan where the customer may use the equity available in an existing home or other real property to help purchase a new home or property.

A mortgage that is collateralized by the borrower's present home allowing the proceeds to be used to close on a new house before the present home is sold.

A loan to fund a buyer's new residence until the buyer receives money from the sale of his/her existing residence.

Sometimes called a "swing loan", a bridge loan is generally a loan that is secured by a borrower's current residence to obtain the funds needed to purchase a new home if the current residence will not be sold prior to the purchase of a new home.

A short-term loan while permanent financing is obtained.

A loan to "bridge" the gap between the termination of one mortgage and the beginning of another, such as when a borrower purchases a new home before receiving cash proceeds from the sale of a prior home. Also known as a swing loan.

Short-term loan made in anticipation of long-term funding or financing.

a short-term loan intended to cover the difference between construction-era financing and a permanent mortgage during the period of capital contributions to the project. As capital contributions arrive, they are used to “take out” the bridge loan.

Not used much anymore, bridge loans are obtained by those who have not yet sold their previous property, but must close on a purchase property. The bridge loan becomes the source of their funds for the down payment. One reason for their fall from favor is that there are more and more second mortgage lenders now that will lend at a high loan to value. In addition, sellers often prefer to accept offers from buyers who have already sold their property.

A loan used (usually) to finance the down payment on a new homebefore the previous property is sold. Previously commonly available,bridge loans are hard to find and are expensive.

A mortgage loan which enables a borrower to obtain financing for a new house before their present house is sold. The present home is used as collateral. Also known as a swing loan.

Rarely used today, bridge loans are used to purchase property by those who have not yet sold their previous property; they have become less popular as second mortgage lenders increasingly lend at a high loan to value, while sellers generally prefer buyers who have already sold their property.

Bridge loans are obtained by those who have not yet sold their previous property, but must close on a purchase property. Not as common in this generation of lower rates and bigger loans. When used, the bridge loan becomes the source of funds for the applicant's down payment. Reasons for their decline in popularity include an increase in second mortgage lenders and sellers who will only accept offers from buyers who have already sold their property.

A short-term loan made to cover the period between the termination of one loan, such as a interim construction loan, and the beginning of another loan, such as a perminant takeout loan. (See interim financing, swing loan, takeout)

Financing which expected to be paid back relatively quickly, such as by a subsequent longer - term loan. Also called a swing loan.

A loan which enables a homebuyer to get financing to make a down payment and pay closing costs on a new home before selling the present house. Also called gap financing.

A loan which enables buyers to get financing to make a down payment and pay closing costs on a new home, before finalizing the sale of the home they currently own. back to the top

A form of second trust that is collateralized by the borrower's present home (which is usually for sale) in a manner that allows the proceeds of that sale to be used for payment of the closing costs on a new house before the present home is sold. The mortgage payment on the present property typically is not counted when determining your ratios for your new home.

A short-term mortgage loan against the current residence used to assist in the purchase of a new residence (Also see “Blanket Loan”).

A short-term loan that is used to borrow equity against a property that you are selling to use as down payment on the property you are purchasing.

Loan that is secured by a borrower's current residence to obtain the funds needed to purchase a new home if the current residence will not be sold prior to the purchase of a new home. Also referred to as a "swing loan."

Bridge loans are loans intended to be used for a short period of time between the initial requuirements for funds and a permanent, usually less costly, financial solution.

A loan used for someone who is having trouble selling his/her current home and needs money to buy a new home. Once the current home is sold the loan is then paid off.

A short-term loan, usually from a bank, that bridges the period between the closing date of a home purchase and the closing date of a home sale. To qualify for a bridge loan, the borrower must have a contract to sell the existing house.

A short term loan on one property that is applied toward the purchase of another property prior to the sale of the first property. Used when a buyer needs the proceeds of a sale before purchasing another property.

a short-term, high-interest loan provided by venture capitalists to companies in dire need of cash.

A short-term loan provided while longer-term financing is being finalized. Allows for business to proceed uninterrupted.

If you find yourself in the inadvisable situation where you have closed on a new home before you have sold your old one, you may need a short-term bridge loan that enables you to borrow against the equity that is tied up in your old home until your old home sells. We say "bridge" because such a loan is the only thing keeping you above water financially during this period when you own two houses. Bridge loans are expensive compared to other alternatives, such as using a cash reserve, borrowing from family or friends, or using the proceeds from the sale of your current home. In most cases, you need the bridge loan for only a few months in order to tide you over until you sell your house. Thus, the loan fees can represent a high cost (about 10 percent of the loan amount) for such a short-term loan.

An equity loan made for a short time to raise money for a special purpose.

A short term loan that covers the costs of purchasing a new home before the buyerâ€(tm)s old home is sold. The loan is paid off when the old home is sold.

Also known as "swing loan," a form of second trust that is collateralized by the borrower's present home in a manner that allows the proceeds to be used for closing on a new house before the present home is sold.

A temporary loan, usually less than 12 months, provided to a borrower when the net proceeds from a sale of a prior residence are not available for the purchase of a new home. It is intended that a bridge loan will be paid off with the net proceeds from the prior residence's sale.

Short-term loan for borrowers who require more time to find a permanent financing solution.

Short-term mortgage financing between the end of one loan and the beginning of another. A bridge loan is usually based on the amount of equity in the borrower's current home with the proceeds going toward the purchase of another home. This loan helps to "bridge" the gap between one home to another without the benefit of cash proceeds from the sale of a previous home.

A loan given to someone buying a property when they haven't yet sold their previous property. The loan is down payment on their new property. Most mortgage lenders now will grant a traditional mortgage under this circumstance, so bridge loans are not common.

A short-term loan for borrowers who need more time to find permanent financing.

A loan, usually short term, that finances the portion of the purchase price not provided by the mortgage loan and the down payment. A bridge loan is commonly used when a purchaser has not sold his existing home before he closes on his purchase of a new home. The bridge loan is paid off when the old home is sold, out of the proceeds of that sale.

a loan that finances the portion that is not covered by the mortgage loan and down payment. This commonly used when one home loan is not paid off before the purchase of another home. Proceeds or profits from the previous home are used to pay the bridge loan.

An equity loan secured to solve short-term financing problem.

A loan that "bridges" the gap between the purchase of a new home and the sale of the borrower's current home. The borrower's current home is used as collateral and the money is used to close on the new home before the current home is sold. Some are structured so they completely pay off the old home's first mortgage at the bridge loan's closing, while others pile the new debt on top of the old. They usually run for a term of six months.

A form of interim loan, generally made between a short-term loan and a permanent (long-term) loan, when the borrower needs to have more time before taking long-term financing.

Interim financing secured by the borrower's present residence to allow the proceeds to be used to close on a new home before the present home is sold.

A type of temporary financing which is extended to a borrower until permanent financing is secured. At that time, funds from the new permanent financing are used to pay off the bridge loan.

A short term loan made until a longer term loan can be arranged; it's sometimes used when a persons needs money to build or purchase a home before the present the present one has been sold.

A loan that enables you to borrow against the equity that is tied up in your old home until it sells. These loans can help if you find yourself in the generally inadvisable situation of having to close on a new home before you have sold your old one. Bridge loans are expensive compared to other alternatives, such as using a cash reserve, borrowing from family, or using the proceeds from the sale of your current home. In most cases, you need the bridge loan for only a few months in order to tide you over until you sell your house. Thus, the loan fees can represent a high cost (about 10 percent of the loan amount) for such a short-term loan.

Mortgagee financing between the termination of one loan and the beginning of another loan.

A short-term loan, typically 1-60 months in length, usually made in anticipation of being replaced by intermediate or long-term financing.

Borrowing against the equity in one's present home to enable the purchase of another home before the existing home sells.

A form of second trust financing that is secured by the borrower's present home (which is usually for sale) in a procedure that allows the profits to be used for closing on a new house before the present home is sold. Sometimes called a swing loan or gap loan.

A short term loan made with the expectation of obtaining Intermediate or long term financing within a short period of time, usually three to six months.

A bridge loan provides a borrower with the ability do a cash out refinance on their current primary residence in order to purchase a new home when their present home will not be sold prior to the purchase of the new property.

A loan used to finance the down payment on a new home before the previous property is sold.

A second mortgage that holds as collateral other property owned by the applicant and currently offered for sale. The agreement allows the proceeds to be used for closing on the new purchase before the property is sold.

A bridge loan is a short-term loan that covers the time between your closing date of a home you are buying and the closing date of the home you are selling. You usually need a contract to sell your current house.

Interim loan to finance a buyers new residence if the buyer is unable to sell his/her current residence first.

A loan, usually a second mortgage, that is collateralized by the borrower's present home (that is usually for sale).

Loan is used for a short duration of time until permanent financing is set in place. They are an optimal solution to a timely acquisition or business opportunity because they allow the investor to act decisively during time-sensitive proposals.

Loan that provides liquidity until defined event occurs that will generate cash, such as sale of non current assets, replacement financing, or equity infusion.

An interim loan used when a buyer requires money to close a transaction on a new home, but is unable to sell his or her current residence. Made on the buyer's current residence, the bridge loan is paid off when the property sells.

A form of second trust, collateral for which is the borrower's present home, usually taken on to allow the proceeds from the sale of the borrower's present home to be used to close on a new home, before the previous home is sold

Also known as a Gap Loan or Swing Loan, it is a short-term loan between the construction loan and the permanent financing.

If a purchase arrangement involves the sale of one property and the purchase of another it will normally be most convenient if the two deals are concluded simultaneously. If this is not possible and the purchase of the second property is to be concluded before the sale of the first is completed then additional financing may be necessary. This is a 'bridging loan' & it bridges the gap between the two transactions.

A loan used to fill a gap in financing. It is usually a temporary mortgage to help a borrower obtain the necessary cash funds to purchase another home, prior to the sale of their currently owned home. back

A loan which enables a buyer to purchase a property, then allow for time to rehab and/or increase NOI prior to placement of permanent financing or enables buyer to get financing to make a down payment and pay Closing Cost s before selling the present property. Also called 'gap' financing. This type of financing is provided by real estate investment banks such as Pacific Security Capital.

A bridge loan (or swing loan) is a type of short-term loan in the financial industry. Bridge loans are typically taken out for a period of 2 weeks to 3 years in order to finance projects. Bridge loans are often used for commercial real estate purchases, to quickly close on a property, retrieve real estate from foreclosure, and to take advantage of a short-term financing opportunity in order to secure long term financing.

A bridge loan is similar to a hard money loan. The lending criteria are generally based more on real estate property value than on the credit profile of the applicant. The documentation is usually lower, while the appraisal standards are emphasized.